THE MONEY MARKET.

Auckland Star, Volume LXI, Issue 103, 3 May 1930, Page 4

THE MONEY MARKET.

WORLD'S BANK RATES. LONDON, May 2. The "Daily Mail" says the simultaneous lowering of the British, French and Belgian bank rates points to the co-operation of the world's central banking authorities and indicates that arrangements have been made to avoid big gold movements. The new Paris rate of 2% per cent is the lowest since 1898. British trade and industry are not expected to benefit greatly from the reduced rate, as the big banks are refusing to lend to their customers below a minimum rate of 5 per cent, irrespective of the changes in the bank rate.

THE CANADIAN DOLLAR. (Received 12.15 p.m.) MONTREAL, May 2. The Canadian dollar is quoted to-day at $4.87 to the pound sterling. FOREIGN 1 (British Official Wireless.) KUGBY, May 1, Foreign exchanges on London to-day, compared with rates previously quoted May 1. April 29. Par, Montreal, dol. to £ 4.86J 4,86$ 4.866 New York, dol. to £ 4.56 5-32 4.86 7-32 4.866 Brussels, belga to £ 34.835 34.82 35 Paris, fr. to £ 123.93 123.93 124.21 Geneva, fr. to £ 25.075 25.075 2D.22 Stockholm, kr. to £ 18.09 18.09 18.159 Oslo, kr. to £. 18.165 18.16 18.159 Copenhagen, kr. „ <* to £ 18.165 18.16 18.159 Helsingfors, mk. to £ 193 1035 192.23 Berlin, r.m. to £ 20.365 20,365 20.43 Rome, lire to £ 92.7S 92.7S 92.46 Prague, kr. to ' • £ 164 i 1641 24.02 Calcutta, pence to rupee .... 17 27-32 liS 18 Shanghai, ster. Amsterdam, fl. 225 23 — tott'el's""!! 241 2JI 24.68 12.0T1 uoii 12.107 ♦Determined on the price of silver.